Income Inequality

Conceptual illustration, the rich and the poor. AI and EPS editable files included.

Over long periods of time, I suspect income inequality will systematically worsen. When first entering the labor force, workers generally know little and get paid poorly. However, labor productivity of educated, skilled workers steadily rises due to technological improvements. Thus, all else equal, skilled workers should earn more than their predecessors in the same job. Moreover, with longer lifespans, high-income workers can earn higher incomes longer.

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